How horse betting works

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Some bettors will build trifecta bets with multiple horses in a race. For example, you can pick a couple of horses that you think have a good chance to finish either first, second or third. You can use those entrants as your main horses and then add on other horses underneath to finish second or third. For example, if a bettor likes No. That means, Nos. Trifecta Box Like with exactas, bettors can also box their trifecta bets. Meaning, if you select three horses and they finish in any order, you win the bet.

Superfecta This wager is like the exacta and trifecta, but the bettor is picking the exact order of finish for the top four runners in a particular race. Although not as popular as exactas or trifectas, some punters enjoy the high-reward nature of superfecta bets.

Obviously, picking four horses to finish in the exact order is nearly impossible, so the odds for superfecta bets can get quite high. Superfecta Box Like with exactas and trifectas, punters can also box their superfecta wagers, which means that your horses can finish 1,2,3,4 in any combination to win. Why exotic wagers are popular One reason that bettors enjoy exactas, trifectas and superfectas is it allows them to have some money on longshot horses without needing them to win.

Vertical Wagers Daily Double This type of bet requires the bettor to correctly pick the winner in back-to-back races. Daily doubles are not offered for every race on a card, but most places have plenty of them on any given day. This bet is quite hard to win and can get expensive, but the payouts can be very large if you catch the right horses in the wager.

It is another bet where punters can get exposure to horses at big prices. Pick 5 and Pick 6 Most horse racing tracks will also offer Pick 5 and Pick 6 wagers, which can lead to massive payouts. Odds can be defined as the return you will receive if your horse bet hits, and it tells you how much money has been bet on a single runner. Depending on the amount of money the public is placing on a horse, the odds will go up and down. These odds continue to change right up to the race, so any developments such as injuries, behavior, or scratches can affect them.

You will almost always see odds in the form of , , , and so on. This reflects the profit you will receive depending on the bet amount. This means that separate bets, such as the Win, Place, Show, Trifect, etc. It also means the odds are never fixed.

Instead of placing a wager against a race track, horse racing bettors are wagering against each other. This is responsible for the often dramatic range in payouts you will see for a single bet. The horse racing track takes a portion of the pools as a fee, and that gets reinvested back into racing operations. It is the only collection that comes from outside the bettors. The more bets there are, the larger the pool becomes, which is then split between all bettors who win.

All of this results in common bets offering lower payouts when they hit, as there is a larger amount of people to split the pool between. On the opposite side, more complex bets like the Trifecta and Superfecta often provide bettors with much larger payouts, meaning they receive a much bigger portion of the prize pool. Of course, this depends on there being a smaller number of individuals placing that bet, but that is nearly always the case with complex wagers.

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Example: You think the No. Should that exact combination come in, you win the bet and the payout will usually be great. Some bettors will build trifecta bets with multiple horses in a race. For example, you can pick a couple of horses that you think have a good chance to finish either first, second or third. You can use those entrants as your main horses and then add on other horses underneath to finish second or third.

For example, if a bettor likes No. That means, Nos. Trifecta Box Like with exactas, bettors can also box their trifecta bets. Meaning, if you select three horses and they finish in any order, you win the bet. Superfecta This wager is like the exacta and trifecta, but the bettor is picking the exact order of finish for the top four runners in a particular race. Although not as popular as exactas or trifectas, some punters enjoy the high-reward nature of superfecta bets.

Obviously, picking four horses to finish in the exact order is nearly impossible, so the odds for superfecta bets can get quite high. Superfecta Box Like with exactas and trifectas, punters can also box their superfecta wagers, which means that your horses can finish 1,2,3,4 in any combination to win. Why exotic wagers are popular One reason that bettors enjoy exactas, trifectas and superfectas is it allows them to have some money on longshot horses without needing them to win.

Vertical Wagers Daily Double This type of bet requires the bettor to correctly pick the winner in back-to-back races. Daily doubles are not offered for every race on a card, but most places have plenty of them on any given day. This bet is quite hard to win and can get expensive, but the payouts can be very large if you catch the right horses in the wager.

Box — A betting term denoting a combination bet whereby all possible numeric combinations are covered for certain horses. Exacta box — A wager in which all possible combinations using a given number of horses are selected. For example, an exacta box using horses 2,4,6 would produce a winning ticket if any two of those three horses finished first and second, regardless of the order , , , etc. Quinella — Bet in which the first two finishers must be picked in either order.

Trifecta — A bet in which the first three finishers must be selected in exact order. Trifecta box — A trifecta wager in which all possible combinations using a given number of horses are bet upon. Pick 6 or other number — A type of multi-race bet in which the winners of all the included races must be selected. Chalk — Betting favorite in a race. Chalk player — Gambler who wagers on favorites. Key horse — A single horse used in multiple combinations in an exotic bet.

On the board — Finishing among the first three. On the nose — Betting a horse to win only. Overlay — A horse whose odds are greater than its potential to win. Professional bettors target overlays, meaning they target bets that offer better than fair value odds. Underlay — A horse whose odds are less than than his potential to win.